Oil mixed as rally falters over supply concerns, vaccine doubts

TOKYO (Reuters) – Oil prices were mixed on Friday in quiet trade due to the U.S. Thanksgiving holiday, with West Texas Intermediate (WTI) dropping more than 1% amid concerns about oversupply and doubts about a vaccine to end the coronavirus pandemic.

FILE PHOTO: The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. REUTERS/Angus Mordant

WTI was down by 69 cents, or 1.5%, at $45.02 by 0104 GMT. U.S. crude prices did not settle on Thursday due to the holiday. Brent crude was up by 9 cents at $47.89, having fallen 1.7% overnight.

Both benchmarks have risen about 6% this week, after AstraZeneca earlier announced that its COVID-19 vaccine could be up to 90% effective, adding to successful trial results of two others under development in the fight to end the worst pandemic in a

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Developers target suburbs as condo demand in downtown Toronto falters amid pandemic

The condos and office towers in the city of Mississauga are seen in the distance with the town of Milton, Ont. in the foreground on Oct. 15, 2019.

Fred Lum/the Globe and Mail

Toronto suburbs are experiencing a boom in condo project launches and preconstruction sales, as the pandemic’s work-from-home trend entices homebuyers to look outside the city.

Suburban condo projects accounted for 65 per cent of all launches in the Toronto region in the third quarter of this year, according to the latest data from industry research group Urbanation Inc.

This is not the first time suburban condo development has surpassed the city’s but marks the widest margin on record. As well, sales of preconstruction condos more than doubled in the suburbs compared with the third quarter of last year, while sales dropped 16 per cent in the city of Toronto over the same time period.

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While Commercial Real Estate Falters, The Single-Family Market Is Booming Amid Pandemic, Report Says

Urban Land Institute and PwC’s latest real estate trends forecast is here. ULI and PwC’s 2021 Emerging Trends in Real Estate offers deep dives and insights into all sectors of the U.S. and Canadian real estate markets. It’s not surprising retail, office, multi-family and commercial markets have felt the far-reaching negative impact of the pandemic.

Conversely, the residential sector is on fire around the country. Brokers and agents all agree, they have not seen a better year. “In my 16 years in the real estate business this is the busiest I’ve ever been,” notes Carl Hawthorne, associate broker at Atlanta Communities in Atlanta Georgia. “There are four to five offers for a home as soon as it’s on the market.”

From the super sunbelt cities of Atlanta, Dallas/Ft. Worth, Houston to Phoenix, San

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